China's Green Dragon to spin off Greka Drilling

Green Dragon Gas said it would spin off Greka Drilling, the holding company of its Chinese drilling business, and unveiled plans to list on the main board of the Hong Kong stock exchange later this year.
The company on Wednesday said trading in the drilling unit, Greka Drilling, would start on London's junior AIM market on March 8.
[Read more]
Source: Reuters

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Ascent Resources finds gas in Slovenian field

UK oil and gas explorer Ascent Resources has discovered natural gas at the Petisovci field in Slovenia.
The company has completed the first phase of operations on the Pg-11 well in the Petisovci project and encountered gas in all of the six Middle Miocene Badenian reservoir targets.
[Read more]
Source: Energy Business Review

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Cold weather cools Devon Energy production

Devon Energy Corp. said oil and gas production was lower than expected in the fourth quarter and cold weather has hurt output in the current quarter.
[Read more]
Source: The Globe and Mail

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Alberta gives boost to plan for new upgrader

The Alberta government is directing a chunk of the province’s oil sands production to a proposed $5-billion upgrader, giving the long-awaited project the capacity necessary to ignite construction plans.
[Read more]
Source: The Globe and Mail

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India's Petronet looks to Australia, Qatar for LNG-CEO

India's Petronet LNG is looking to buy liquefied natural gas (LNG) from Australia and Qatar for a new terminal, its head said on Wednesday, adding it would cost $70 million to double target capacity of the site.
Petronet, which already operates a 10-million-tonne-a-year LNG regasification plant at Dahej in the western state of Gujarat, aims to start the Kochi terminal by October 2012, Chief Executive A.K. Balyan told reporters.
[Read more]
Source: Reuters

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Ecuadorean Groups Appeal to Increase $8.6 Billion Chevron Fine

Ecuadorian plaintiffs who won a US$8.6 billion dollar judgment against oil giant Chevron earlier this week for pollution of their Amazon homeland plan to appeal the ruling. They say the amount awarded is too low to compensate for the damages they suffered from 30 years of oil production by Texaco, since purchased by Chevron.
[Read more]
Source: Enviroment News Service

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General Electric to minimize gas flaring at world's largest LNG complex in Qatar

In the first large-scale application of its type, GE Oil & Gas advanced compressor technology is minimizing liquefied natural gas (LNG) boil-off gas flaring at LNG berths at the Ras Laffan Port, Ras Laffan Industrial City in Qatar, by making productive use of the gas that boils off during loading of the LNG carriers.
[Read more]
Source: AMEInfo.com

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China's CNOOC wins Australia nod to invest in shale gas acreage

State-owned China National Offshore Oil Corp has won approval from Australia's Treasurer to invest in a coal seam gas and shale gas exploration prospect in Queensland, its partner Exoma Energy said on Thursday.
[Read more]
Source: Reuters

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Transocean orders two jack-up rigs at Keppel FELS

Transocean Ltd. reports that a subsidiary has been awarded five-year drilling contracts for two newbuild high-specification jack-up rigs for operations in Thailand for a subsidiary of Chevron Corporation.

[Read more]

Source: MarineLog

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Extrem Energy Announces Aegean Sea Farm-In Opportunity

Extrem Energy Inc., a Turkish exploration and production joint venture, is inviting companies to join them to explore their high potential asset in Aegean Sea. 
The Candarli block, license AR/EXT/4219, is located in the prolific Western Anatolian Region, off the western coast of Turkey in water that ranges from 10 to 150 m deep. Multiple leads and prospects provide billion barrel potential in the block. 
[Read more]
Source: OilVoice

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Trend: Small scale LNG sees bright future ahead

Small scale LNG has been experiencing considerable growth in the past years and will be gaining even more popularity and importance in the upcoming years. Many organizations are now investigating the business case and are considering investing in the new technology. 
[Read more]
Source: Penn Energy

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Ipic offers €4bn for rest of Spanish refiner Cepsa

Abu Dhabi is showing a renewed appetite for European oil refining assets as international companies seeks to shed them.

The International Petroleum Investment Company (Ipic), owned by the Abu Dhabi Government, yesterday said it would offer about €4 billion (Dh19.9bn) to acquire the 53 per cent of the Spanish refiner Compania Espanola de Petroleos (Cepsa) that it did not already own.

[Read more]

Source: THe national

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Shell Predicts Energy Use Will Triple by 2050 Because of China, India

The Shell global energy report, called Signals and Signposts, said emerging nations like China and India are going through materially intensive development and a tighter market will continue to put pressure on prices and generate volatility. Shell also says there is no "silver bullet" that will solve all of the global energy demands in spite of ongoing development of biofuels and other alternatives.
[Read more]
Source: Torgue News

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Gazprom Agrees to Join Eni’s Oil Project in Libya

OAO Gazprom Neft, the oil arm of Russia’s natural-gas exporter, OAO Gazprom, today signed an agreement to take a stake in Eni SpA’s Elephant oil project in Libya.
Gazprom Chief Executive Officer Alexei Miller signed the agreement in Rome following talks between Russian President Dmitry Medvedev and Italian Prime Minister Silvio Berlusconi.
[Read more]
Source: Bloomberg

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Nigeria: Oyo Well - Camac Completes Intervention Operation

CAMAC Energy has announced the successful completion of well intervention operation on its Oyo 5 oil well, located in the Oyo Field offshore Nigeria . The operation commenced in December 2010 to reduce the gas production from the well.
[Read more]
Source: AllAfrica.com

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Total Joins BP, Exxon in Rush for Offshore Oil Riches

Total is in talks with Rosneft about joint development of fields in the Barents Sea inside the Arctic Circle and in the Black Sea, Pierre Nerguararian, head of the Paris-based company's Russian office, told reporters Wednesday.
Total, Europe's third-largest oil producer, is joining bigger rivals ExxonMobil and BP in pursuing Russia's underwater riches as conventional deposits become harder to find. BP last month agreed to swap 5 percent of its shares for 9.5 percent of Rosneft as part of a drive to extract billions of barrels of crude from offshore Arctic deposits. Exxon, the biggest traded oil company, followed two weeks later with a $1 billion accord to explore the Black Sea with Rosneft. Russia's biggest oil producer also has a preliminary deal to explore a separate Black Sea block with Chevron Corp.
[Read more]
Source: THe Moscow Times

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Mitsubishi gets Ramform orders

Norwegian-based Petroleum Geo-Services ASA (PGS) has signed a ‘letter of award’ with Mitsubishi Heavy Industries for the delivery of two Ramform W-class vessels, with the option for another two ships.
The 104.2m long, 70m wide vessels are the first in the new, fifth generationRamform series. Planned deliveries of the two first vessels are in 2013 and the two optional vessels in 2015.
[Read more]
Source: The Motorship

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SEADRILL: Private placement in North Atlantic Drilling Ltd completed

North Atlantic Drilling Ltd. has completed the first tranche and closed the order book in the private placement of 250,000,000 new ordinary shares of US$1.00 par value at a subscription price of US$1.70, raising US$425,000,000 in gross proceeds to the Company (the "Private Placement").
The Private Placement was closed on February 16, 2011 at 12:00 CET. The Company is pleased to announce that the offering was heavily over-subscribed.
Due to heavily over-subscriptions allocation will not finalized before Friday February 18, 2011.
The net proceeds raised will be used to part finance NADL's acquisition of a fleet of six drilling units designed for use in harsh environment from Seadrill. Seadrill has agreed to subscribe for 750,000,000 new shares in the Company at the same subscription price as part consideration for the assets sold, such subscription taking place at closing. As such, NADL will following closing of the acquisition have issued 1 billion new shares at a subscription price of US$1.70 raising a total amount of new equity of US$1,700 mill.
Seadrill confirms its obligation to repurchase the shares issued in the Private Placement at the issue price of US$1.70 during the period from the date of issue until the later of (i) the 10th business day (Oslo time) after closing of the acquisition agreement with Seadrill and (ii) close of business Oslo time on May 13, 2011. Shareholders that wish to sell shares in the Company on this basis must do so through RS Platou Markets AS. Settlement will be made on ordinary terms for share sales in the secondary market.
The Company intends to list on the Oslo Stock Exchange within 2011.
RS Platou Markets AS, ABG Sundal Collier Norge ASA, Carnegie ASA and Fearnley Fonds ASA have acted as joint lead managers and book-runners for the Private Placement.
Source: Press release

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Seaspan waiting to order 10,000TEU's

Seaspan is close to placing an order for a series of 10,000 teu boxships. But prices would have to fall by another 5% or so first before the shipowner is ready to go ahead, said chief executive Gerry Wang.
[Read More]
Source: Asiasis

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Statoil completes investigation into natural gas leak at Gullfaks B in the Norwegian North Sea

Statoil’s  internal investigation into the gas leakage on the Gullfaks B platform in the North Sea on December 4, 2010, has been concluded and the report presented to the Petroleum Safety Authority Norway. 
[Read more]
Source: Penn Energy

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Reseach vessel order to Rauma shipyard

STX Finland Oy and Ministry of Fisheries and Marine Resources of the Republic of Namibia recently signed a contract for the construction of a fisheries research vessel at a cost of approximately EUR 35 million.
[Read More]
Source: motorship

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Rolls-Royce wins US $32m contract for Chinese seismic research vessel

Rolls-Royce has won a £20 million (US $32 million) order from Chinese conglomerate Sinopec to design and equip a specialist seismic research vessel.  When operational it will carry out detailed surveys of the seabed to identify oil and gas reserves.  The contract includes efficient power and propulsion systems and a range of advanced automated handling systems for seismic equipment.

[Read more]

Source: Gcaptain

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Cyprus: Gas drilling could start by end of the year

EXPLORATORY drilling to determine whether there are hydrocarbon reserves in Cyprus’ territorial waters could start by the end of this year, officials said yesterday.
Trade and Industry Minister Antonis Paschalides said the plan was to drill by the end of the year or early in 2012.
[Read more]
Source: Cyprus Mail

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Det norske oljeselskap ASA Q4: Good progress on development projects

Det norske oljeselskap ASA is working actively on three potential development projects. In the fourth quarter, Det norske recorded high operating revenues. 
In 2010, Det norske oljeselskap ASA confirmed its position as one of the most active exploration companies on the Norwegian continental shelf and the company will continue its extensive exploration activity in 2011.
[Read more]
Source: Detnorske

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Somali Pirate Sentenced to Nearly 34 Years

A Somali man who pleaded guilty to hijacking an American-flagged cargo ship off the coast of Africa in 2009 was sentenced on Wednesday in Federal District Court in Manhattan to 33 years and 9 months in prison.
[Read More]
Source: The New York Times

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PGS orders seismic ships from Mitsubishi Heavy

Norwegian seismic surveyor Petroleum Geo-Services (PGS.OL) has ordered two Ramform W-class vessels from Mitsubishi Heavy Industries (7011.T) at a cost of $250 million apiece with an option for two additional ships.
[Read More]
Source: Reuters

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Origin Energy announces conditional divestment of interest in Production Sharing Contract, Block L8, Lamu Basin, Kenya

Origin Energy Limited, on behalf of its wholly owned subsidiary Origin Energy Kenya Pty Ltd advises that it has reached agreement with a subsidiary of US independent Apache Corporation, to divest a 50% undivided interest in a Production Sharing Contract (PSC) for petroleum exploration and production, pertaining to Block L8 located in the Lamu Basin, offshore Republic of Kenya.
[Read more]
Source: Your Oil & Gas News

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Shanghai to launch new marine fund

Shanghai has launched a 50 billion yuan ($7.6 billion) fund to invest in its shipping industry, as part of the city's plan to become an international shipping center by 2020, the local government said on Friday.
[Read More]
Source: People's Daily

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Tullow Oil slips on Ugandan deal concerns, while Mauritanian well is abandoned

The exploration group is down 31p to £13.96 after Total said it was renegotiating part of a deal to buy a stake in Tullow's Ugandan oil fields. The French company said the move was related to delays in gaining approval for the proposals. Tullow is waiting for the government to give the go-ahead so it can sell stakes in the Ugandan blocks to Total and China's CNOOC and then proceed with a $10bn development of the area.
[Read more]
Source: The Guardian

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SGS to Attend Gastech 2011 in Amsterdam, the Netherlands

SGS will be participating in Gastech 2011 from March 21 to 24 in Amsterdam, the Netherlands. The 25th Gastech Conference and Exhibition, one of the world’s leading gas industry exhibitions, is being hosted by Shell and is an important meeting place for experts keen to discuss commercial and technical challenges that face those working in the natural gas, LNG and LPG industries. 
Participating in Gastech 2011, SGS, the world’s leading inspection, verification, testing and certification company, will showcase its expertise in categories such as Liquefied Natural Gas Services (LNG), Supply Chain Services, Non-Destructive Testing (NDT), Asset Integrity Management (AIM) and Leak Testing Services. Furthermore, SGS will also present its expertise in production, ocean transport and custody transfer, liquefaction and regasification, shore and marine tank calibration and specialized training. 
SGS provides extensive inspection and control services and prides itself on its wide range of solutions for the oil, gas and chemicals industry, its cutting-edge technology, innovative approaches, technical support and its dedication to quality and safety. SGS brings tangible benefits, in both the upstream and downstream sectors, helping to improve the integrity, quality and efficiency of products, systems and equipment. 
SGS very much looks forward to attending Gastech 2011 and hopes to convince Gastech attendees that its range of services and the breadth of its expertise are practically unrivalled. 
Source: Press release

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ABB, Canyon Offshore Sign Cable Co-Operation Agreement

ABB, the leading power and automation technology group, has signed a cooperation agreement with Canyon Offshore for trenching services to support ABB’s subsea high-voltage cable installation projects.
[Read more]
Source: Dredging Today

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ION Announces Opening of New Seismic Data Processing Center in Brazil

GX Technology Subsidiary to Provide Advanced Data Processing Services
ION Geophysical Corporation today announced that its GX Technology (GXT) Imaging Solutions group has established a new seismic data processing center in Rio de Janeiro.  A joint venture of GXT and Brazilian energy consultancy Bratexco, GX Technology Processamento de Dados Ltda. will provide advanced imaging services to E&P companies operating in the highly prospective basins off the coasts of Brazil and environs, combining the technological strengths of GXT with Bratexco's extensive knowledge of the Brazilian energy industry and operators.
The largest oilfield discoveries of the past 35 years lie along the coast of Brazil, the ninth largest energy consumer in the world and third largest in the Western Hemisphere. These discoveries, including Lula (formerly known as Tupi) and Cernambi (formerly known as Iracema), are collectively estimated to contain in excess of 75 billion barrels of oil and will add significantly to the current estimated 2 million barrels of oil produced a day in Brazil.  Increasing domestic oil production had been a long-term goal of the Brazilian government, and recent discoveries of large, pre-salt oil deposits could transform Brazil into one of the largest oil producers in the world.
The new center is ideally suited to meet the needs of the rapidly growing Brazilian energy industry, as it delivers a broad range of advanced seismic processing services for land, marine, ocean bottom cable (OBC), and transition zone data, with initial emphasis on 3D marine. The full scope of services includes data conditioning, noise attenuation and multiple elimination, velocity model building, and state-of-the-art imaging algorithms, such as GXT's proprietary Reverse Time Migration (RTM). The center is equipped with the latest Linux-based server hardware and staffed by Brazilian geophysicists who are experts in applying high-end data processing techniques and workflows.
Mr. Nick Bernitsas, Senior Vice President of ION's GXT Imaging Solutions group, commented, "Imaging the complex pre-salt basins offshore Brazil requires application of the most advanced depth imaging techniques, such as GXT-pioneered RTM and TTI anisotropic velocity model building, areas in which GXT is a leader.  GXT has extensive experience in Brazil, having already processed over 42,000 kilometers of data offshore Brazil as part of ION's BrasilSPAN™ regional seismic data program, which several major E&P operators are using to optimize their exploration programs in the highly prolific Campos and Santos basins.  We see this new center as a logical – and very promising – extension of our growing network of global processing centers, and we're excited about working with our partner Bratexco to leverage their expertise and experience in the Brazilian seismic market."  
Mr. Cosme Peruzzolo, Principal Partner at Bratexco and Managing Director of the new center, added, "What attracted us to GXT is their industry reputation and proven track record of imaging subsalt data in Brazil, West Africa, and the Gulf of Mexico. We are excited to bring the services of the market leader in high-quality depth imaging to meet the growing and increasingly sophisticated needs of the Brazilian energy industry."
The center will be operational by the end of March 2011.
Source: Press release

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LLOG Exploration Provides Update on 5 Deepwater Projects, Launches Website

LLOG Exploration Company, L.L.C. (and affiliate, LLOG Exploration Offshore, L.L.C.) today provided an update on five discoveries being developed in the Deepwater Gulf of Mexico and announced the launch of the company's website. The five development projects are all scheduled to be on line by the first quarter of 2012 and will more than double the company’s production volume.

[Read more]

Source: Bradenton.com

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Dockwise and Amarcon celebrate ongoing relationship

Recently, members of the management of the Oil and gas service provider Dockwise, met an Amarcon delegation, to celebrate their ongoing relationship. Reason for this celebration is the completion of OCTOPUS-Onboard installations on all fifteen Dockwise vessels. The latest OCTOPUS-Onboard installation was executed on board of the Teal in Rotterdam in December 2010. 

[Read more]

Source: Amarcon

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Polarcus Recieves Lol for 3D Seismic Acquisition

Polarcus Limited  announces that the Company has received a Letter of Award for a 3D seismic acquisition project to be acquired by POLARCUS ALIMA, the fifth and latest vessel to join the Polarcus fleet and the second of the ULSTEIN SX134 design.

The project will commence in April after vessel shakedown and transit, and is expected to run for approximately 60 days.

[Read more]

Source: Offshore Energy Today

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FLAGSHIP-DSS reduces on-board risk of fire and flooding

FLAGSHIP, a part EU-funded maritime transport project, has successfully delivered the first advanced emergency situation management tool for fire and flooding with integrated ship to shore real time reporting.
[Read More]
Source: Motorship

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Carbon reduction agenda goes global

A significant step forward in reducing carbon emissions in the global maritime supply chain was taken recently when the Freight Transport Association (FTA) joined forces with Heriot-Watt University (HWU) to begin developing definitive best-practice guidance on reducing cargo emissions in global maritime supply chains.
[Read More]
Source: Motorship

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China awards seismic research vessel contract

Rolls-Royce has won a £20 million order from Chinese conglomerate Sinopec to design and equip a specialist seismic research vessel.
[Read More]
Source: Motorship

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US shipyard secures car truck carrier contract

Singapore-based ST Engineering announced that its US shipyard, VT Halter Marine, has been awarded a shipbuilding contract worth about $144 million from Honolulu-based Pasha Hawaii (Pasha).
[Read More]
Source: Motorship

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Government to release Navy sex ring report

FINDINGS from an independent inquiry into an alleged sex ring aboard a Navy ship will be made public next week.
[Read More]
Source: news.com.au

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Vessel and crew abandoned by Vietnam government

State-owned Vietnamese general cargo Bien Nam is abandoned by owner and manager, vessel staying in outer roard Chennai for already 6 months. 18 crew is asking for assistance.
[Read More]
Source: Sea News

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"Barrington Island" Lost containers

The "Barrington Island" reached Antwerp on Feb 14, 2011. The vessel had lost 20-30 containers at sea during bad weather before. Side rails and gangway were damaged.
[Read More]
Source: Sea News

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Container ship runs aground during storms in Almayate

A fully laden container ship has run aground on the Almayate beach near Torre del Mar, in the storms. The 133 m long German owned vessel, ‘K Wave’ is flying a British flag, and has suffered no structural damage, and there are no reports of her taking on water.
[Read More]
Source: Typicallyspanish

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Norwegian ship owner: ‘Hang the pirates’

Shipping magnate Jacob Stolt-Nielsen advocates stronger measures to deal with the spate of hijackings by Somali pirates.
[Read More]
Source: The Foreigner

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Shipping ministry comes to 18 stranded sailors' help

CHENNAI: Union shipping ministry on Tuesday asked the Chennai Port Trust to immediately provide food for 18 starving sailors on board MV Bien Nam, a Vietnamese vessel. The 'dead vessel' has been stranded outside Chennai port since August 2010.The instruction comes a day after TOI reported the plight of the sailors.
[Read More]
Source: The Times of India

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SBM OFFSHORE AND MITSUBISHI CORPORATION SIGN LONG-TERM COOPERATION AGREEMENT

SBM Offshore is pleased to announce it has signed a long-term cooperation agreement with Mitsubishi Corporation (Mitsubishi) to jointly pursue FPSO lease and operate projects worldwide, subject to pre-existing agreements of each of the companies.

Mitsubishi will be an equity partner with SBM Offshore for the ownership and operation of FPSOs. SBM Offshore will be responsible for the EPCI supply of these units and act as the operator on behalf of the partnership.

SBM Offshore and Mitsubishi have already formed partnerships in the past for the Yetagun FSO and Rang Dong FPSO lease contracts. The new cooperation with Mitsubishi will provide SBM Offshore with substantial equity capability for new lease projects, enable the partnership to attract competitive financing from a wide range of sources and also provide access to Mitsubishi Corporation's global business network with more than 200 bases of operations in 80 countries around the world.

The partnership will in particular support SBM Offshore in its ambitions to grow the portfolio in major markets such as Brazil where several large FPSO projects are expected to be developed in the coming years. The SBM Offshore/Mitsubishi combination also has strong local knowledge and expertise in several other countries identified by SBM Offshore and Mitsubishi as potential growth areas.

Source: Press Release

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Hyundai Heavy Launches 30 Billion Won Fund for SMEs

Hyundai Heavy Industries, the world’s biggest shipyard, launched a 30 billion won (USD 26.8 million) R&D fund to support domestic SMEs (small and medium enterprises) in cooperation with the Small & Medium Business Administration on February 15. 

The agreement ceremony for ‘Joint Investment and R&D Fund Agreement between Government and the Private Sector’ was attended by Mr. Lee Jai-seong, President and CEO of Hyundai Heavy, Mr. Chung Un-chan, Chairman of Commission on Shared Growth for Large and Small Companies, Mr. Kim Dong-sun, Administrator of Small & Medium Business Administration, and Mr. Ahn Byung-hwa, President of Large & Small Business Corporation Foundations. 

Under the agreement, Hyundai Heavy and the Small & Medium Business Administration will each contribute 50 percent of the fund, and Hyundai Heavy will purchase products developed by the small and medium businesses. 

Hyundai Heavy also pledged to expand its Shared Growth Policy to more of its partner companies and better support for the quality improvement and products development. 

Mr. Lee Jai-seong said, “This agreement is meaningful in that the government and Hyundai Heavy are helping small and medium businesses develop technology and providing a secure market for their products, along with financial support. When the small and medium companies succeed in developing competitive technologies, then our competitiveness will be sharpened as well” 

In July last year, Hyundai Heavy was also selected as a model company for shared growth by the Fair Trade Commission Republic of Korea.

Source: Hyundai Heavy Industries

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Isle of Man Steam Packet ferry Snaefell goes on sale

One of the Isle of Man Steam Packet's catamaran ferries has been put up for sale.
[Read More]
Source: BBC News

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Ferry Chetzemoka Runs Aground In High Winds

The ferry Chetzemoka went aground in high winds and strong currents, and ferry runs between Port Townsend and Coupeville were canceled for the night on Tuesday, Washington State Ferries told KIRO 7 Eyewitness News.
[Read More]
Source: kirotv.com

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Singapore's NOL says Q4 net profit $177 mln, beating consensus

Neptune Orient Lines (NOL) , the world's seventh largest container shipping firm, reported on Wednesday better-than-expected fourth-quarter net profit, reversing from a loss the previous year as freight rates and cargo volumes soared.
[Read More]
Source: Reuters

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Barge grounded in S.F. Bay, leaks fuel

Fuel and hydraulic fluid leaked from a sinking barge Tuesday near the St. Francis Yacht Club, prompting an emergency cleanup operation.
[Read More]
Source: SFGate

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Lisco Gloria sold for scrapping

SHIPPING: The former DFDS Lisco ferry, Lisco Gloria, that was declared a constructive total loss on 3 January, following the extensive fire on the ship last October, has been sold for scrapping
[Read More]
Source: Maritime Denmark

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Wilhelmsen stronger

Jan Eyvin Wang-led WWASA turns in better than expected numbers as shipping performance improves.
[Read More]
Source: TradeWinds

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Oil and gas shipping through Suez in focus

Over the past three weeks, as civil unrest spread through the streets of Cairo and other major Egyptian cities, the role of the Suez Canal as a key conduit for world trade came sharply into focus. Of particular concern was the importance of the waterway in funnelling Middle East energy to the US, Europe and the other regions on the Atlantic Basin periphery.
[Read More]
Source: Safety 4 Sea

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One person died in cargo ship fire in Baku

One person died and two injured during the strong fire occurred on a board of "Shirvan" cargo ship docked in the water area of Baku, a law enforcement source told Trend.
[Read More]
Source: Trend News

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Tongan ferry unsuitable, court told

THE HEAD of the Shipping Corp of Polynesia was told that ferry Princess Ashika was unsuited to Tongan waters before it was purchased, a court has heard.
Viliami Vaka’uta Pola Vi, a maritime expert who worked for SCP for three years before becoming a lecturer at the Tongan Maritime Institute, told the Supreme Court in Nuku’alofa that he was contacted by SCP managing director John Jonesse in April 2009 to advise on plans to buy the 37-year-old vessel from Fijian owners.
[Read More]
Source: Safety at Sea

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Yard fire victim dies

WELDER injured in a ship repair yard fire in Azerbaijan was reported today to have died.
Officials have begun an investigation into yesterday’s blaze aboard the crane ship Shirvan, owned by Caspian Shipping, the local news portal 1News.az also reported.
[Read More]
Source: Safety at Sea

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Vinashin targets high growth at 100% in 2011

Vietnam Shipbuilding Industry Group (Vinashin), one of the largest state-owned enterprises in Vietnam targets to double its 2010 revenue in 2011
[Read More]
Source: Vietnam Business News

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Pasha building second ship to serve Hawaii

Pasha Hawaii announced Tuesday that it will build a second ship and add it to its Hawaii service, allowing the company to provide weekly service between the West Coast and the Islands.
[Read More]
Source: Pacific Business News

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Bangladesh: 2 lighterage vessels sink at Ctg Port, 7 crew missing

Two cement clinker laden lighterage vessels capsized at the outer berth in Kutubdia channel on midnight of Monday after collision with mother vessel MV Ramshir.
[Read More]
Source: The New Nation

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New crane in Portsmouth damaged as ship leaves

One of two towering container cranes delivered last week to APM Terminals in Portsmouth was damaged Monday morning as the vessel that carried the cranes from China was pulling away from the pier.
[Read More]
Source: Pilot Online

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SCI takes delivery of Aframax crude oil tanker

The Shipping Corporation of India last week took delivery of mt Desh Suraksha an Aframax crude oil tanker. The vessel is the third of four Aframax crude oil tankers ordered from Hyundai Heavy Industries Co Ltd of Korea, the largest shipyard in the world.
[Read More]
Source: Steel Guru

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Mounting protest

Korean Metal Workers’ Union (KMWU) Busan Yangsan branch head Mun Cheol-sang and KMWU Hanjin Heavy Industries and Construction chapter head Chae Gil-yong stage a sit-in demonstration at a 47-meter-high tower crane, Hanjin’s Yeongdo Shipyard.
[Read More]
Source: The Hankyoreh

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Drug-smuggling submarine seized in Colombia

Colombian soldiers have seized a fully submersible drug-smuggling submarine capable of reaching the coast of Mexico.
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Source: CBC News

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Korea Lags Behind China in Global Shipbuilding Orders

Korea took second place behind China in shipbuilding orders in the first half of this year, according to the South Korean Ministry of Knowledge Economy and the Korea Shipbuilders' Association. Korean shipbuilders won a total of 4.62 million compensated gross tons (CGT) in orders between January and June, a 450-percent increase over the same period last year. The value of the orders totaled US$9.1 billion, up 116 percent.
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Source: Qatar News Agency

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Bharati exports two new vessels to Europe

Ship building and operating group Bharati Shipyard on Tuesday announced export of two vessels to Europe for carrying forest products, containers and long cargoes.
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Source: India Blooms

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Guangzhou Shipyard To Purchase Ship Interior Installation Assets

Guangzho0u Shipyard International will purchase a 24-percent stake in Wanda for 1.99 million yuan from CSSC Guangzhou Shipbuilding, reports Shanghai Securities News, citing a company filing. The purchase includes ship interior installation works.
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Source: Capital Vue

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S. Korean shipbuilders fall far behind Chinese rivals in Jan.

South Korea failed to regain its status as the world's leading shipbuilding nation in January as it lagged behind China in key indicators, data showed on Wednesday.
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Source: Yonhan News

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